Moribund accounts may leave you at risk of fraud

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It may be easier said than done, but consumers should close unwanted accounts

Closing a bank account should be straightforward — but for many consumers, the process seems almost impossible. Times Money has been inundated with letters from readers struggling to close a current, savings or credit card account.

Customers whose accounts are left open without their knowledge are placed at higher risk of fraud and may also incur unexpected “underfunding” fees and unauthorised overdraft charges.

Vera Cottrell, of Which?, the consumer group, says: “It makes little sense for banks to keep current accounts open when there is no money going in. I can only assume that the practice is down to very